- KETCHIKAN, Alaska (AP) - An Alaska company has set its sights on developing a rare-earth element mine by 2016 on southeast Prince of Wales Island. The Ketchikan Daily News reports Ucore Rare Metals' proposed Bokan Mountain Project could begin construction in 2014 with the proper permits. CEO Jim McKenzie says China has dominated the rare-earth elements market, and the Alaska project gives the U.S. a chance to keep up. Critical minerals, which include rare-earth elements, are those that are needed for use but subject to possible supply restrictions. Alaska is billing itself as an excellent place to explore, with geology conducive to deposits. There are 70 known occurrences of rare-earth elements in the state. And Alaska boasts what is believed to be one of the most significant rare-earth prospects in North America.